Definition-Experiential marketing is a combination of strategies that engage potential customers with your brand through real/brand experiences. It is also understood as’live marketing’,’engagement marketing’, and’event marketing experience’.
Experiential marketing campaigns are often referred to as specific activities that brands perform to promote their products. There is no doubt that businesses prefer new and unique ways to reach their target customers. Direct connections with consumers will help build a strong bond and trust in the sale of your products.
This is where empirical marketing campaigns stand out from the different types of processes in the ecosystem.
Marketing experience is invaluable to grab the attention of buyers and motivate them to buy a product. The improved experiential marketing system communicates real motives directly to consumers. Many new users are often unsure about the procedures included in this system.
So, here’s some up-to-date on empirical marketing to better understand the concept. Let’s start with the world of experiential marketing and understand customer loyalty for a brand or marketing agency, an immersive experience, and their role in event marketing.
What is Experiential Marketing?
Experiential marketing is a type of marketing technique that directly influences customers to use and experience a product’s features. In short, brands are asking consumers to try their products before they reach global markets.
Some also refer to this as live marketing, engagement marketing, and loyalty marketing. There is no doubt that all these terms equally define the sole motives of this trend.
The company wants to get close to regular customers while at the same time attracting new customers to the market. This will strengthen the bond between the two sides and get to know each other deeply.
There’s nothing better than creating memorable emotional connections for your customers. Companies tend to stick to this type of marketing to improve their CLV (customer lifetime value). CLV measures the revenue generated by a single customer for a company and a brand over its lifetime.
Key elements of successful experience marketing
It is a common myth that just providing a free sample of a product will work. It’s not that simple and it involves a lot more effort to win customer trust.
The following elements will help you create a better experience strategy to achieve your goals.
1. Target audience
The entire customer bank doesn’t have to showcase your product or service. Sometimes it is a better option to select it and divide it into various sections. Identify audiences interested in engaging in experiential marketing campaigns.
If you’re starting out with an experiential marketing strategy, make sure you have a sufficient number of people waiting to use it. This can only be done through appropriate advertising of the product. The main motivation is to let your customers know your actions. Promote your campaign on social media platforms like Facebook, Instagram, Twitter, and more. Experiential marketing is channelized around effective recognition strategies for strong marketing and branding.
3. Background connection
Customers prefer to test a product only if they are happy with the idea behind it. You need to create an appropriate background for your product that will give you a reason to be part of it. Seduce them with interesting offers and connect with them. Therefore, customers will empathize with the brand in an emotional sense and will eventually help sell the product.
Best Tips for Effective Experience Marketing Campaigns
1. Customer first
You need to cultivate brand ambassadors or brand warriors who can do word-of-mouth experience marketing with consumers first.
2. Know the power of storytelling
You need to understand the power of storytelling. This is because the users involved in the story are better connected with the brand and respond favorably through experiential marketing strategies.
3. Connect your brand story
The brand story needs to be true, and it can include a personality or character that your audience can cheer for to make your experiential marketing more conversion-oriented.
4. Set clear goals
Marketers need to set clear goals and outcomes, and because they optimize the success rate of empirical marketing campaigns, they should also decide how to measure those goals and outcomes.
5. Market identification and research for experiential marketing
In order to channelize an experiential marketing campaign, it is inevitable for marketers to identify the target market and scrutinize it.
6. Know the importance of brand experience in an empirical marketing case.
You should always remember why you offer real/brand experiences through popular experiential marketing practices on the web.
7. Make your experiential marketing campaign results driven.
Experiential marketing strategies should focus on devising creative, engaging, interesting and effective activations.
8. Use of online and social media channels
Marketers need to find ways to optimize their online engagement through social media and other channels.
9. Make sure your event marketing strategy for your brand ensures the added value.
You need to channelize your brand awareness and provide your users with something of value so that prospects and users can act as brand ambassadors.
Benefits of empirical marketing
Next, it’s time to shed some light on the live marketing benefits that can completely change the game. This is why the hype is created for this experiential marketing style.
1. reach better
Participatory marketing is the best way to promote your product before it hits the market. The range of new customers will be eagerly waiting for the product to reach the store’s sales platform.
2. Brand loyalty
Loyal customers tend to be an important part of your brand’s overall success. Experiential marketing will serve to promote the growth of trust between both parties. Customers will feel good about the company if they are part of the campaign.
3. Customer Growth
Several surveys have proven that live marketing improves customer growth. Brands that tend to use more unique methods are preferred when choosing similar products.
Examples of experiential marketing
It’s safe to say that experiential marketing is appreciated by consumers and each brand. However, this is similar to a double-edged sword that can have a positive and negative impact on your brand image. Let’s understand this with some examples of empirical marketing.
1.CocaCola’s free movie tickets
CocaCola, a famous soft drink brand, has set up time for customers to get free movie tickets.
They use one of the vending machines at the airport and try to reach a specific destination in 90 seconds. This is to make them aware of their physical health and become attached to the brand.
2. Betfair’s confusion caused by octopus
Betfair is one of the famous gambling companies that have found interesting ideas for promotional purposes. To invite people during the 2014 World Cup, they planned to bring a giant octopus to the scene.
Unfortunately, the trailer broke along the way, causing great chaos on the streets. Later they apologized for their actions on the social media handle.
3. Refinery 29:29 Room
For about three years, this lifestyle brand has promoted a 29Rooms event called “Interactive Fun House of Style, Culture and Technology”. It consists of 29 independently branded and curated meeting rooms, where participants can meet different things from everyone.
Rooms are planned and created with brand partners such as a variety of musicians and artists, along with shopper-oriented brands such as Dunkin’ Donuts, Cadillac, and Dyson. This empirical marketing example shows you how to keep your brand going crazy.
This suggests that the experience should not only be memorable, but relate to the individuals involved. It’s also a good idea to partner with other creators like artists or musicians to make the experience stand out to expand your brand reach.
4. Volkswagen: Piano Stairs
In 2009, Volkswagen chose this strategy in Stockholm, Sweden, to turn subway stairs into giant pianos, allowing individuals to become the most musical side.
The next day, each step of the stairs began to sound different piano keys as people passed through the keys. This empirical marketing campaign was based on “The Fun Theory,” suggesting that people prefer to look fun.
Ensuring fun elements in any marketing campaign means it’s very effective in solving customer problems. Providing an enjoyable experience is an opportunity to make a constructive and productive impact on your community.
5. Facebook: Facebook IQ Live
Facebook created Facebook IQ Live to understand the amount of data about how people use the platform. As Facebook’s new insights department, it has brought consumer data to life in a way that can grab the attention of advertising and marketing executives.
This data plays an important role in curating live screens to depict conversion paths when online shoppers use social media for purchases. This campaign was useful in helping attendees gain valuable insights on how to use Facebook to optimize their business presence.
Guaranteed an experience of how users use your business’ products or services on Facebook. This allows users to interact with your brand in a more creative and results-driven way.
So the productivity of experiential marketing depends on your mindset.
Some people believe it is unique and others mess it up so that it doesn’t get the right results. All moves must be carefully planned during this campaign. One wrong step will do you more harm than doing nothing.
How important do you value experiential marketing to optimize reach, lead generation, and brand conversion?